Orbimed Advisors LLC decreased its holdings in shares of bluebird bio Inc (NASDAQ:BLUE) by 15.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 387,200 shares of the biotechnology company’s stock after selling 72,000 shares during the quarter. Orbimed Advisors LLC owned 0.71% of bluebird bio worth $38,410,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of BLUE. Cornerstone Advisors Inc. lifted its position in shares of bluebird bio by 1,540.0% in the fourth quarter. Cornerstone Advisors Inc. now owns 328 shares of the biotechnology company’s stock worth $33,000 after buying an additional 308 shares during the last quarter. Exane Derivatives acquired a new stake in shares of bluebird bio in the fourth quarter worth about $34,000. Stratos Wealth Partners LTD. acquired a new stake in shares of bluebird bio in the third quarter worth about $106,000. Belpointe Asset Management LLC acquired a new stake in shares of bluebird bio in the third quarter worth about $110,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of bluebird bio by 36.6% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,104 shares of the biotechnology company’s stock worth $110,000 after buying an additional 296 shares during the last quarter.
In related news, insider Kory James Wentworth sold 388 shares of the stock in a transaction that occurred on Wednesday, December 19th. The stock was sold at an average price of $103.05, for a total transaction of $39,983.40. Following the sale, the insider now directly owns 4,612 shares in the company, valued at approximately $475,266.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David Davidson sold 7,600 shares of the stock in a transaction that occurred on Thursday, January 3rd. The stock was sold at an average price of $98.82, for a total value of $751,032.00. Following the sale, the insider now owns 15,559 shares in the company, valued at $1,537,540.38. The disclosure for this sale can be found here. Insiders have sold 42,826 shares of company stock worth $5,526,727 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.
bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings results on Thursday, February 21st. The biotechnology company reported ($2.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.83) by $0.11. bluebird bio had a negative return on equity of 32.15% and a negative net margin of 1,018.02%. The firm had revenue of $19.20 million for the quarter, compared to analyst estimates of $9.06 million. During the same period in the previous year, the company posted ($2.52) earnings per share. The company’s quarterly revenue was up 357.1% compared to the same quarter last year. On average, equities analysts anticipate that bluebird bio Inc will post -11.67 EPS for the current fiscal year.
BLUE has been the subject of several research analyst reports. Svb Leerink cut bluebird bio from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 5th. Leerink Swann cut bluebird bio from an “outperform” rating to a “market perform” rating and set a $150.00 price objective for the company. in a research report on Tuesday, March 5th. They noted that the move was a valuation call. ValuEngine raised bluebird bio from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Cowen initiated coverage on bluebird bio in a research report on Tuesday, February 26th. They set an “outperform” rating and a $149.91 price objective for the company. Finally, SunTrust Banks cut their price objective on bluebird bio to $184.00 and set a “buy” rating for the company in a research report on Monday, February 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $168.12.
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About bluebird bio
bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates in severe genetic diseases include LentiGlobin, which is in various clinical studies for the treatment of transfusion-dependent ß-thalassemia and severe sickle cell disease; and Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder.
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